The Center for Talent and Opportunity is a community resource at Sagamore Institute for closing the wealth gap of the New Majority by accelerating entrepreneurship and impact investing.
According to a 2019 Survey of Consumer Finances, the median net worth of Black households was one-eighth ($23,000 as opposed to $184,000) that of white households. Likewise, the median net worth of Hispanic households was almost one-fifth ($38,000 to $184,000) that of white households. Women earn about 79 cents on the dollar compared to men but own only 32 cents; and women of color own only pennies on the dollar compared to white men and white women. This shortfall in financial wealth creates a cascade of inequalities in education, homeownership, and simply saving for emergencies. While addressing these disparities in opportunity requires a wide array of solutions, entrepreneurship can provide the best opportunity to build sustainable, long-term wealth while strengthening families and communities.
A 2015 Census Bureau report predicts that by 2044, America's white majority will become merely a plurality: more than half of all Americans are projected to belong to a minority group (any group other than non-Hispanic white). The aggregation of these groups create the New Majority.
Impact investments are investments made with the intention to generate positive, measurable social and environmental impact alongside a financial return. The Global Impact Investing Network values the market at $715 billion and growing with 88% of impact investors reporting returns that met or exceeded their financial expectations. Investments in new majority entrepreneurs provide direct measurable financial impact that can generate market returns in the growing marketplace.